New Mexico § 60-2D-15 - Pari-mutuel wagering; breakage; uncashed tickets
Full text of New Mexico New Mexico Statutes Annotated § 60-2D-15 — Pari-mutuel wagering; breakage; uncashed tickets, with citation guidance and answers to common questions.
§ 60-2D-15. Pari-mutuel wagering; breakage; uncashed tickets
A. A pari-mutuel bicycle-racing licensee may conduct pari-mutuel wagering. In the conduct of such wagering, all breakage shall be split equally between the
state and the licensee. Breakage shall be those odd cents remaining after paying winning ticket holders
a minimum of ten cents ($.10) for each one dollar ($1.00) wagered. If during any bicycle-racing meet conducted under the Bicycle Racing Act there are
underpayments of the amount actually due to the wagerers, the amount of the excess
of such underpayments, over and above overpayments to wagerers on the expiration of
thirty days after the end of the meet, shall be paid to the state treasurer. Uncashed tickets may be presented to the licensee for payment at any time. B. If a governmental agency imposes a levy on the licensee of a tax on the money wagered
and upon its receipts, the licensee may collect, in addition to the percentage and
breakage allowed in this section, the amount of the tax so levied. The tax and breakage and license fees provided in the Bicycle Racing Act shall be
in lieu of all other license and excise taxes levied by the state or any of its political
subdivisions for the privilege of conducting bicycle-racing meets licensed under the
Bicycle Racing Act.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 60-2D-15
What does New Mexico Statutes Annotated § 60-2D-15 cover?
Section 60-2D-15 ("Pari-mutuel wagering; breakage; uncashed tickets") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 60-2D-15?
A common citation format is "New Mexico Statutes Annotated § 60-2D-15" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 60-2D-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.